Recycling materials promotes sustainable development along with the eco-friendliness of the industry. There is great international pressure to use carbon-neutral renewable materials in accordance with global climate change response strategies. Although this can be promoted through the activities of private companies, there is a need to bring it into the national strategic government R&D initiatives and establish it as a key driving force for securing sustainable industrial competitiveness. Even if the blueprint for the future is set, private companies' investments may be focused on immediately upcoming profitability and corporate survival rather than adhering to long-term investment direction.
 In this paper, we introduce the status of several programs being carried out through government funded R&D in South Korea, focusing on the petrochemical sector, including textiles and plastics. In South Korea, The leading ministries are the Ministry of Trade, Industry and Energy and the Ministry of Environment, with the Ministry of Science and ICT also partially promoting it. Representative topics include 1) organic waste to usable material conversion, 2) plastic recycling, and 3) fiber recycling. Among these R&D processes, environmental impact assessment and productization testing may be performed. Each R&D program sets and manages performance indicators to achieve the goals. In particular, in addition to quantitative scientific and technological performance, performance indicators are also required to establish practical indicators that can directly affect future industrial competitiveness. Examples include obtaining GRS certification, LCA reports, and so on.
 Also, We’d like to propose a R&D investment portfolio strategy to succeed in the sustainable materials recycling mission within a limited Budget and with innovativeness. in order to succeed in the government R&D mission related to sustainable material recycling, it is necessary to build a strategic investment portfolio. This is because R&D risks may vary depending on the challenge and difficulty of the goals/processes pursued by each R&D program. One more thing is that R&D value may vary depending on the effect of each program goal when achieved. Here, we propose to introduce the optimal portfolio theory (Markowitz Approcah), which has traditionally been developed in the financial field, into the modified model suitable for R&D, seeking to utilize it from the perspective of supporting strategic budgeting decisions.